GAMMA Investing LLC Has $234.95 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

GAMMA Investing LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 13,499.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,150,215 shares of the company's stock after acquiring an additional 2,134,404 shares during the quarter. GAMMA Investing LLC owned approximately 0.40% of American Electric Power worth $234,954,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. Safeguard Investment Advisory Group LLC grew its holdings in shares of American Electric Power by 4.3% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock worth $223,000 after purchasing an additional 100 shares during the last quarter. Marcum Wealth LLC raised its holdings in American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock valued at $379,000 after buying an additional 101 shares during the last quarter. SouthState Corp raised its holdings in American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company's stock valued at $610,000 after buying an additional 102 shares during the last quarter. Ascent Group LLC boosted its position in American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after buying an additional 102 shares during the period. Finally, Dark Forest Capital Management LP grew its holdings in American Electric Power by 2.3% during the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company's stock worth $418,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

AEP has been the subject of several recent research reports. Morgan Stanley decreased their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Barclays boosted their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Bank of America lifted their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $105.69.

American Electric Power Trading Down 0.6%

Shares of NASDAQ:AEP traded down $0.57 during midday trading on Wednesday, reaching $102.26. The company's stock had a trading volume of 778,375 shares, compared to its average volume of 3,188,733. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The firm has a 50 day moving average price of $104.82 and a two-hundred day moving average price of $100.89. The firm has a market capitalization of $54.63 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.97 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.64%. American Electric Power's payout ratio is presently 71.68%.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president now directly owns 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,057 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now directly owns 26,298 shares of the company's stock, valued at $2,707,116.12. This trade represents a 23.45% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.